#1 New York Knicks

Value: $1.1 billion
Profit: $83 million

The Knicks’ home arena, Madison Square Garden, is in the final stages of a $980 million renovation, to be completed this summer. The makeover resulted in an NBA-leading $243 million in revenue last season. Another plus: better play. In 2012, the Knicks won a playoff game for the first time since 2001.